KUALA LUMPUR: The government has pledged to prioritise the development of specialised industrial clusters in the central region, namely in states like Kuala Lumpur, Selangor, Negeri Sembilan, and Melaka.
Prime Minister Datuk Seri Anwar Ibrahim, in a Facebook post today, said among others the government aims to solidify Malaysia's position as a premier investment hub.
He said this decision was made during the 7th National Investment Council meeting for 2024.
Anwar also emphasised the importance of close collaboration between the federal and state governments to jointly promote the initiatives in the Central region.
"This coordinated effort is expected to attract higher-quality investments to key areas within each state, expedite project implementation, and streamline regulatory processes to improve the ease of doing business," he said.
Anwar said the investment council has also approved the continuation of the Malaysian Productivity Corporation (MPC) regulatory sandbox initiative, designed to enhance productivity and streamline regulatory delivery at all levels of government, including local authorities.
"The success of this initiative, particularly in terms of time and cost savings, has prompted a call for its expansion. This approach not only attracts more investments but also boosts local government's revenue, especially from collecting fees for construction permits and land management via the Industrial Green Lane approach," he said.
He also cited the successful implementation of the Industrial Green Lane in Kulai, Johor, and Kulim, Kedah as a model that can be replicated.
By focusing on the development of specialised industrial clusters and streamlining regulatory processes, he said, the government will be able to create a more attractive investment climate and drive economic growth.